A mortgagee sale of a multi-million-dollar arts and craft house in Auckland's double grammar zone was called off at the last minute.
The four-bedroom house at 23 Orakei Road, in Remuera, hit the market last month, with the stipulation that buyers would be unable to view inside.
The agent listing the property had told OneRoof that the sale had nothing to do with Covid-19 but the best buyers could do to inspect the property was “stand on the street and look at it”.
The property had been due to go to auction today but was withdrawn last week after the owner settled the debt.
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Bayleys agent Gary Wallace said: "That often happens with mortgagee sales. People get pretty close to the point where it's going to sell but then they find the funds somewhere to satisfy the mortgagee and the sale is over."
The owner was notified by the bank last week that they could retain their home.
Despite missing out on a sale, Wallace says he was stoked that the owner was able to "get their life back on track".
"The fact that they managed to retain their home is more important for us then getting a sale," he added.
The Remuera property last sold in 2005 for $1.1 million in 2005 and has a 2017 CV of $3.45 million.
Wallace previously told OneRoof that mortgagee sales were rare in the double grammar zone. “I think it’s only the second [mortgagee sale] I’ve ever done in my 16 years as an agent."
